Confederation Reports on Most Recent Assays from Their Mid-Summer Drilling Program at Newman Todd
Published : September 20, 2013

-- 6.0 Meters Grading 7.05 g/t Gold Including 1.0 Meters Grading 26.8 g/t Gold; and

-- 6.0 Meters Grading 5.05 g/t Gold Including 0.5 Meters Grading 43.9 g/t Gold

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Keywords :   Bull | Diamond | Georgia | Gold | Iron | K Street | Market |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 20, 2013) - Confederation Minerals Ltd. (News - Market indicators) (OTCQX:CNRMF) (FRANKFURT:070) ("Confederation" or the "Company") is pleased to announce the most recent assay results from six additional Diamond drill holes from their 2013 summer drilling program at the Newman Todd gold project in the Red Lake District, northern Ontario. Drilling continues to be focused on the gold-bearing, structural zone known as the Newman Todd Structure (NTS). Confederation has the right to earn a 70% interest in the project from Redstar Gold Corp. (TSX VENTURE:RGC).

Assay highlights from this most recent drilling are tabulated below:

The most recent, and up-to-date results returned from the on-going Newman Todd drilling are listed below:

HoleID       From (m)   To (m)   Width (m)   Au (g/t)
NT-155       45.0   45.5   0.5   6.58
NT-155   and   110.0   116.0   6.0   7.05
NT-155   including   110.0   111.0   1.0   11.30
NT-155   and including   115.0   116.0   1.0   26.80
NT-155   and   142.0   143.0   1.0   6.88
NT-155   and   188.0   189.0   1.0   3.12
NT-155   and   194.0   197.0   3.0   3.42
NT-155   including   194.0   195.0   1.0   7.70
NT-155   and   210.0   212.0   2.0   3.27
NT-155   and   234.0   235.0   1.0   3.49
NT-155   and   307.0   319.0   12.0   3.00
NT-155   including   307.0   313.0   6.0   5.05
NT-155   and including   308.0   308.5   0.5   43.90
NT-155   and   318.0   319.0   1.0   3.65
NT-156       59.0   62.0   3.0   3.06
NT-156   including   60.0   61.0   1.0   6.57
NT-156   and   71.0   73.0   2.0   7.40
NT-156   including   71.0   72.0   1.0   11.60
NT-157       40.0   41.0   1.0   3.19
NT-157   and   86.0   89.0   3.0   3.19
NT-157   including   88.0   89.0   1.0   5.23
NT-157   and   114.0   115.0   1.0   4.02
NT-158       22.5   28.0   5.5   3.07
NT-158   including   22.5   23.0   0.5   19.30
NT-158   and including   25.0   26.0   1.0   3.19
NT-158   and including   27.0   28.0   1.0   3.08
NT-158   and   114.0   115.0   1.0   5.48
NT-159   Weakly anomalous                
NT-160   Weakly anomalous                

Table 1: Significant Results

* Width is calculated as core length and does not imply true width of the zone. Weighted average gold intervals apply a 0.20 g/t lower cut‐off. Internal dilution within reported intervals does not exceed core lengths of 3 metres unless otherwise indicated.

Drill hole NT-155 is located in the northeast of an area referred to as the 'Hinge Zone', approximately 25 m to the northwest of hole NT-154 (previously reported on in the news release dated August 28th, 2013). 

Drill holes NT-156, NT-157, NT-158, NT-159 and NT-160 were all positioned along the same drill section line (section 1475; see accompanying figure) in the area referred to as the 'Heath Bull Zone', approximately 475 meters to the southwest of hole NT-155. All five holes were collared at the same location, one hole (NT-158) being vertical, and the others being angled at -45 and -60 degrees with azimuths towards both the southeast and northwest.

Locations of these six holes are shown on Figure 1 below. Drill hole orientations, assay highlights and geological interpretations are illustrated on Figure 2, which is a cross section through the NTS looking northeast.

For a complete description of the geological setting, local geology, a list of drill holes completed to date along with assay results for all drill holes, please refer to the Company's web site at Results from the previous holes comprising the current drilling phase were reported on in press releases issued by the Company on August 23, 2013 and August 28, 2013. Included in the August 23rd press release are potential "going forward" plans for advancing the exploration on this advanced-stage, gold-bearing discovery, and the reader is referred to that recent document.

Assays from additional holes will be reported on as they are received from the laboratory and have passed quality control criteria implemented by the Company.

Company CEO Lawrence Dick, Ph.D., P.Geo. states "Since 2011, Confederation Minerals Ltd. has completed 46,644 meters of drilling in 110 Diamond drill holes along approximately 1.8 kilometers of the Newman Todd structural/alteration zone which strikes NE-SW across the property and attains widths in excess of 200 meters. Within this extremely large volume of potentially gold-bearing host rock, nearly all holes have intersected gold mineralization (refer to web site), which occurs over a depth interval ranging from surface to approximately 1 kilometer, where it remains open. Still, approximately 400 meters of the structure remains to be drilled along strike at the SW end of the project area. The large, geological and geochemical database gathered to date by Confederation is now being used to generate cross section and plan view interpretations. These interpretations will serve as the basis for the planning of the next phase of drilling which will have the objective of demonstrating continuity of the gold-mineralized trends as well as the identification of additional, gold-bearing structural zones."

Drill Hole Summary

Hole NT-155: This hole is located in the Hinge Zone along drill section 2050. It was orientated at an angle of -50 degrees towards the southeast. Several intervals of enriched sulfides were intersected with visible gold being observed during core logging. Assay highlights for this hole include 6.0 meters grading 7.05 g/t gold at a depth of 110 to 116 m, including 1.0 m at 26.80 g/t gold from 115 - 116 m; 3.0 m grading 3.42 g/t gold at a depth of 194 to 197 m, including 1.0 m at 7.70 g/t gold from 194 to 195 m; and 12.0 m at 3.0 g/t gold at a depth of 307 to 319 m, including 0.5 m at 43.90 g/t gold from 308 to 308.5 m.

Hole NT-156: This hole is located in the Heath Bull Zone along drill section 1475, at the same collar position as holes NT-157, NT-158, NT-159 and NT-160. It was drilled at an angle of -45 degrees to the southeast. Sulfide mineralization is represented by pyrite throughout, with scarce chalcopyrite towards the bottom and an increase in pyrite/pyrrhotite mainly in iron formation. Assay highlights for this hole include 3.0 meters grading 3.06 g/t gold at a depth of 59 to 62 m; and 2.0 meters grading 7.40 g/t gold at a depth of 71 to 73 m, including 1.0 m at 11.60 g/t gold from 71 - 72 m.

Hole NT-157: This hole is located in the Heath Bull Zone along drill section 1475 at the same collar position as holes NT-156, NT-158, NT-159 and NT-160. It was oriented in the same southeasterly direction as hole NT-156 but at a slightly steeper angle (-60 degrees). Traces of base metal sulfides were observed throughout the entire hole with a local increase in pyrite and pyrrhotite. Assay highlights for this hole include 3.0 meters grading 3.19 g/t gold at a depth of 86 to 89 m, including 1.0 m at 5.23 g/t gold from 88 - 89 m.

Hole NT-158: This hole is a vertical hole located in the Heath Bull Zone along drill section 1475, at the same collar position as holes NT-156, NT-157, NT-159 and NT-160. Visible gold was observed in the core during logging at depths of 22.9m and 35.9m. Assay highlights for this hole include 5.5 meters grading 3.07 g/t gold at a depth of 22.5 to 28 m, including 0.5 m at 19.30 g/t gold from 22.5 - 23 m.

Hole NT-159: This hole is located in the Heath Bull Zone along drill section 1475 at the same collar position as holes NT-156, NT-157, NT-158 and NT-160. It was drilled at an angle of -45 degrees towards the northwest. This hole, together with hole NT-160, was drilled very close to the footwall of the NTS with the aim of determining geology rather than mineralization. It was observed to intersect the footwall contact at 82.3m. No significant visible mineralization was observed in the core, and assays were returned as weakly anomalous.

Hole NT-160: This hole is located in the Heath Bull Zone along drill section 1475 at the same collar position as holes NT-156, NT-157, NT-158 and NT-159. It was oriented in the same northwesterly direction as hole NT-156 but at a slightly steeper angle (-60 degrees). As with hole NT-159, this hole was drilled very close to the footwall of the NTS and intersected the footwall contact at 98.9m depth. Also as with NT-159, no significant visible mineralization was observed in the core, and assays were returned as weakly anomalous.

Andrea Diakow, P.Geo, is the Qualified Person as defined by National Instrument 43-101 and has reviewed the technical content relating to the disclosed drill results in this news release. Core samples from the program were cut in half using a Diamond cutting saw and were sent to Activation Laboratories Ltd. in Red Lake, Ontario, an accredited mineral analysis laboratory. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks, and field duplicates were routinely inserted into the sample stream as part of Confederation's quality control/quality assurance program.

About CFM

Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. holds an Option Agreement to acquire up to 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario, as well as 100% ownership in another property in the Red Lake Mining District of Ontario.

This press release was prepared by Lawrence Dick, Ph.D., P.Geo.and CEO

On Behalf of the Board:

Brian Bapty, Ph.D., President and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "proposes", "project", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. 

To view "Figure 1: Plan View of Property showing Drill Hole Locations", please visit the following link:

To view "Figure 2: Cross Section 1475 Showing Geology and Assay Highlights", please visit the following link:

Confederation Minerals Ltd.
Brian Bapty
President and Director
Confederation Minerals Ltd.
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All

Confederation Minerals Ltd.

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Confederation Minerals is a exploration company based in Canada.

Its main exploration property is NEWMAN TODD in Canada.

Confederation Minerals is listed in Canada. Its market capitalisation is CA$ 7.3 millions as of today (US$ 5.4 millions, € 4.8 millions).

Its stock quote reached its highest recent level on April 08, 2011 at CA$ 1.40, and its lowest recent point on February 05, 2016 at CA$ 0.02.

Confederation Minerals has 10 370 000 shares outstanding.

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